Saudi Arabia plans to invest $100 billion in India's energy market

Considering India's growth potential, Saudi Arabia will invest $100 billion
in areas such as Indian petrochemicals, infrastructure and mining.

Saudi Arabian Ambassador Saud bin Mohammed Al Sati said that India is an attractive investment destination for Saudi Arabia, and Saudi Arabia will establish long-term partnerships
with India in oil, gas, mining and other fields.

Saud bin Mohammed Al Sati said in an interview: "Saudi Arabia is considering potential investments in India in the energy, refining, petrochemicals, infrastructure, agriculture, minerals and mining sectors, which could be worth up to $100 billion
.
”

The proposed partnership between Saudi Arabia's largest oil giant Aramco and Reliance Industries Ltd.
reflects the strategic nature of
the growing energy links between the two countries.

Investing in India's value chain, from oil supply, marketing, refining to petrochemicals and lubricants, is a key part of
Aramco's global downstream strategy, Al Sati said.

"Against this backdrop, Saudi Aramco's proposed investments in India's energy sector, such as the $44 billion West Coast Refining and Petrochemicals Project in Maharashtra, and its long-standing partnership with Reliance represent strategic milestones
in our bilateral relationship.
"

In addition, Saudi Vision 2030 will also enable significant expansion of trade and business between India and Saudi Arabia in different sectors
.

In line with Vision 2030, Saudi Arabia plans to diversify its economy while reducing its economic dependence
on petroleum products.
Saudi Arabia is an important pillar of India's energy security, a source of
17% or more of India's crude oil and 32% of LPG demand.